Cognos has launched a new financial services solution suite in collaboration with IBM, which will help banks manage their profitability plans and performance.

The Ottawa-based software company announced Wednesday the launch of the Cognos-IBM Risk Adjusted Profitability Blueprint, which includes hardware, software and services designed to help banks integrate critical risk information with revenue and expense planning data to maximize the return on their investments while reducing risk.

"IBM and Cognos share a common vision for providing cost-effective solutions that enable banks to identify, report on and analyze the costs of trade, performance, risk management, compliance and profitability, among others," said Cognos's financial services industry director Francis McKeon. "Through this joint offering, banks will finally be able to synchronize profitability plans with relevant risk scenarios, minimizing discrepancies between projected and actual financial results."

The product combines Cognos 8 Planning and Cognos 8 Business Intelligence with IBM's Banking Data Warehouse software. The Blueprint offering provides features such as integrated risk-adjusted planning and forecasting, scenario planning incorporating activity costs which allows users to compare the financial impact of different business options, and risk-management analysis.

---------------------------------------------------------------------------------------------

By Ottawa Business Journal Staff

All reproduction and distribution rights reserved